Excerpts from the minutes of the meeting of the Board of the Philippine Racing Commission (PHILRACOM) held on 18th of April 2012 at 4th Floor Electra House Bldg., Esteban St., Makati City.

RESOLUTION NO. 30-12SERIES OF 2012

WHEREAS, the Philippine Racing Commission (Philracom) has the exclusive jurisdiction and control over all aspects of the conduct of horseracing including the framing and scheduling of races, the construction and safety of horse racing, the allocation of prizes, and the security of racing as provided in Presidential Decree No. 420;

WHEREAS, the Philracom obtained information that the Racing Clubs are collecting One Hundred Pesos (Php100.00) entry fee from every participating horses;

WHEREAS, the said entry fee of One Hundred Pesos (Php100.00) has no basis and is contrary to the intent of the Philracom to attract more players in the races;

NOW THEREFORE, it be RESOLVED, as it is HEREBY RESOLVED, by the Philracom Board of Commissioners that the Racing Clubs be ordered to stop the collection of the entry fee of One Hundred Pesos (Php100.00) as it has no basis and is contrary to the intent and mission of the Philracom to attract more players in the races;

RESOLVED FURTHER, that this Resolution be published in the Kopya and the Official Gazette and be announced in the television for proper guidance of those concerned.

RESOLVED FURTHER, that this Resolution be published in the "kopya" and the Official Gazette and be announced in the television for proper guidance of those concerned prior to its implementation.

APPROVED AND SIGNED by the undersigned Chairman and Commissioners of the Philippine Racing Commission, this 25th of April at Makati City Philippines.